Liberation Day: Trump's Economic Gamble

President Trump’s unveiling of reciprocal tariffs, dubbed 'Liberation Day,' aims to reinvigorate U.S. manufacturing and economic growth. However, potential downsides include higher consumer prices, economic recession risks, and possible political fallout, as midterms approach. Experts remain divided on the effects of these tariffs.

President Donald Trump marked 'Liberation Day' by introducing reciprocal tariffs designed to revitalize U.S. manufacturing. While Trump's promises focus on economic growth, economists warn of higher consumer prices and recession risks. This strategy could pose political challenges for Trump, particularly as midterm elections draw closer.

The introduction of tariffs has led to debates over their potential impact, with many Americans fearing increased costs for goods. A Reuters/Ipsos poll indicates a majority believe tariffs may do more harm than good, despite Trump's vision of economic boosting through protectionist measures.

Political repercussions are also on the horizon, with growing dissatisfaction among Republicans. The tariffs could affect Republican standing in crucial elections. Nevertheless, Trump's administration remains optimistic about long-term economic benefits, dismissing short-term volatility and concerns about political risks.

(With inputs from agencies.)